Nota
notes from BoA Global Research: "Over the last twelve months, DD shares have outperformed the S&P500 Chemical Index by 14.1% and the broader S&P500 by 20.5%. Outperformance since 1 Oct. 2020, when we believe arbitrage investors began buying shares to participate in the Nutrition & Biosciences (N&B) sale to IFF, has been an even more impressive 34.8% and 40.7%, respectively. Shares have responded well to resilient demand in electronics, resurgent strength in auto sales, an improving price backdrop in nylon polymers, and, as we will discuss below, a significant tailwind from deal-related buying. Indeed, we think the company is set up for a strong earnings performance in 2021 and see a favorable pro forma leverage profile that will provide further flexibility to drive growth. However, with shares now trading near 14x pro forma EBITDA, and carrying just over 2% upside to our new $86 PO, we are inclined to step back on our Buy rating as valuation is closer to fair.Nota
Technical tailwinds shift to headwinds as tender closesNota
Headline risk to PFOA may pick up on Blue WaveNota
The company now operates through three primary reporting segments: Electronics & Imaging, Transportation & Industrial Polymers, and Safety & Construction. These businesses are allocated based on process technology, product application, and end market exposures.Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.